Espey Manufacturing & Electronics said on September 21, 2023 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Previously, the company paid $0.10 per share.
Shareholders of record as of October 2, 2023 will receive the payment on October 10, 2023.
At the current share price of $16.10 / share, the stock’s dividend yield is 3.73%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.22%, the lowest has been 1.77%, and the highest has been 5.97%. The standard deviation of yields is 1.10 (n=143).
The current dividend yield is 0.45 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.40. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.40%.
What is the Fund Sentiment?
There are 48 funds or institutions reporting positions in Espey Manufacturing & Electronics. This is an increase of 2 owner(s) or 4.35% in the last quarter. Average portfolio weight of all funds dedicated to ESP is 0.02%, a decrease of 21.38%. Total shares owned by institutions increased in the last three months by 5.24% to 346K shares.
What are Other Shareholders Doing?
Renaissance Technologies holds 100K shares representing 4.03% ownership of the company. In it’s prior filing, the firm reported owning 87K shares, representing an increase of 12.84%. The firm increased its portfolio allocation in ESP by 3.04% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 37K shares representing 1.49% ownership of the company. No change in the last quarter.
DFSCX – U.s. Micro Cap Portfolio – Institutional Class holds 35K shares representing 1.42% ownership of the company. No change in the last quarter.
Sage Investment Advisers holds 21K shares representing 0.84% ownership of the company. No change in the last quarter.
DFAT – Dimensional U.S. Targeted Value ETF holds 13K shares representing 0.53% ownership of the company. No change in the last quarter.
Espey Manufacturing & Electronics Background Information
(This description is provided by the company.)
Espey Mfg. & Electronics Corp. designs, develops, tests and manufactures specialized Military and Rugged Industrial Power Supplies and Transformers for use in harsh or severe environment applications. An Original Equipment Manufacturing (OEM) Company, Espey has been in business for more than 85 years designing and developing “Best in Class” products in support of our government and the Warfighter. Espey is a fully vertically integrated manufacturing company with product development, engineering, power supply and transformer assembly, sheet metal fabrication, machining, painting/coating, electrical/mechanical assembly and transformer coil winding capabilities all on-site at our 150,000+ square foot facility located in Saratoga Springs, NY
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